Next Hydrogen settles debt and converts debentures into shares

Next Hydrogen Solutions Inc. (TSXV: NXH) provided an update on its completed private placement and related transactions from December 2025. The Canadian hydrogen electrolyzer manufacturer settled CAD$560,527.37 in debt with company directors and officers by issuing 1,245,610 common shares at CAD$0.45 per share.

The company also converted CAD$1,125,000 in debentures into 2,499,998 common shares at the same price. CAD$1,600,000 in debentures remain outstanding following these transactions.

All securities issued through the offering and debt settlements are subject to a four-month and one-day hold period under securities regulations. No new control person was created through these transactions, according to the company's statement.

In January 2026, Next Hydrogen granted 459,108 deferred share units to its directors. The company utilized exemptions from valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 for insider participation in these transactions.

Next Hydrogen designs and manufactures hydrogen electrolyzers that use water and electricity to produce hydrogen. The company, founded in 2007, holds 40 patents related to its cell design technology.

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